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First Time Home Buyers

Finance :

The type of abode you would want to choose will depend on how secure and sound you are financially.

Premier step is to analyse your credits and bank accounts.

For example – you decide to buy a home which is priced at INR 80 lakhs. Let’s say the bank loan for the same will be INR 35 lakhs. On an average considering the EMI 1000 per lakh your EMI will be approximately INR 35,000 per month.

Now that you know your EMI, make a check list of your current expenses and then decide on whether it’s the right time to step out for hunting your residency.

Once you have your finances in place you can go the next step i.e.

 Type Of Home :

The type of home is typically the kind of configurations you are looking at i.e. 1 BHK flat, 2 BHK flat, 3 BHK flat and so on.

This choice will be dependent on 2 factors i.e. on your family size and your budgets. If you are a nuclear family 1 BHK flat would be an ideal choice to begin with. You can upgrade yourself to a 2 BHK or 3BHK flat in years to come by.

3) Locations :

Once you have decided the type of home, next comes is the choice of location.

Location is one of the most important choice that needs to be made while purchasing a house. It determines your conveniences and commutation.